Annual report pursuant to Section 13 and 15(d)

Inventory

v3.23.1
Inventory
 12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventory

Note 6: Inventory

Inventories, consisting principally of appliances, are stated at the lower of cost, determined on a specific identification basis, or net realizable value, and consist of the following (in $000's):

 

 

 

December 31, 2022

 

 

January 1, 2022

 

Appliances held for resale

 

$

366

 

 

$

1,104

 

Inventory from continuing operations

 

 

366

 

 

 

1,104

 

Inventory from discontinued operations

 

 

—

 

 

 

105

 

Total inventory

 

$

366

 

 

$

1,209

 

 

The Company provides estimated provisions for the obsolescence of its appliance inventories, as necessary, including adjustments to net realizable value, based on various factors, including the age of such inventory and management’s assessment of the need for such provisions. The Company looks at historical inventory aging reports and margin analyses in determining its provision estimate. A revised cost basis is used once a provision for obsolescence is recorded. No provision for obsolescence was recorded during the years ended December 31, 2022, or January 1, 2022.